WASHINGTON, June 18, 2013 /PRNewswire-USNewswire/ -- Startup Act 3.0 offers straightforward solutions to problems facing small startup companies, according to CompTIA, the non-profit association for the information technology (IT) industry. It encourages capital investment in startups; incentivizes startups to invest in research and experimentation; and removes barriers currently limiting access to the most talented workforce.
In conjunction with National Small Business Week June 17-21, CompTIA is spotlighting issues affecting its small business members and offering solutions to address those challenges.
Investing in technology infrastructure and raising capital is an essential for clients of Clever Ducks, an IT professional services company based in San Luis Obispo, Calif.
"Our customers must invest in new technology to improve productivity. However, many can't because of the economic downturn. They've had to make some hard choices. There's a lot of pent-up demand not fulfilled," said Amy Kardel, chief administrator officer of Clever Ducks.
"Raising capital is part of the problem. Startup 3.0 encourages capital investment in startups by providing a 100 percent capital gain exclusion for certain startup investments; it also incentivizes businesses to perform research and experimentation by allowing an R&E credit to be offset again by payroll taxes.
"In addition to the provisions of Startup 3.0, we support the permanent extension of section 179, for small businesses, at its current level. Unless legislation is enacted this year, the small business expensing limitation will drop from $500,000 to $25,000 beginning in 2013. This will stifle investments in new equipment and technologies needed by small businesses to remain competitive.
"Access to capital and the most talented workforce is vital for prosperity and job growth for our community. That's why we support both Startup 3.0 and a permanent extension of the small business expensing limitation."
Continuing its support for Startup 3.0, CompTIA will moderate a House Small Business IT Caucus panel titled "The Value & Impact of Startup Act 3.0" on June 28 at 11 a.m. in Room 2360 of the Rayburn House Office Building.
Distinguished entrepreneurs will discuss how provisions of Startup Act 3.0 would expand opportunities for their small businesses to improve innovation, create new products and services, and thus grow our nation's job base and economy. The panel will explore both immigration and tax provisions included in the Startup 3.0 legislation, as well as the impact on the future strength of the IT industry.
TechVoice is a partnership of the CompTIA, the Technology Councils of North America (TECNA), and participating regional technology associations. For more information, visit www.techvoice.org.